The Nobel Prize is a Swedish & International monetary prize, established by the 1895 will and estate of Swedish chemist and inventor Alfred Nobel. It was first awarded in Physics, Chemistry, Physiology or Medicine, Literature, and Peace in 1901. An associated prize, The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was instituted by Sweden's central bank in 1968 and first awarded in 1969. The Nobel Prizes in the specific disciplines and the Prize in Economics, which is commonly identified with them, are widely regarded as the most prestigious award one can receive in those fields. The Nobel Peace Prize conveys social prestige and is often politically controversial.